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Lee Gyu-lee

Korea Times Business Reporter

Lee Gyu-lee is a business writer at The Korea Times, focusing primarily on IT & telecommunications, the Ministry of Trade, Industry and Energy and KOTRA. Prior to this, she has covered a wide range of cultural news, from film, television and K-pop to lifestyle and fashion.

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Companies

Kumho Petrochemical shifts toward specialty materials, R&D amid petrochemical slump

Kumho Petrochemical Group is accelerating its shift toward research and development to reshape its business around higher-value products and advanced materials as the global petrochemical industry grapples with weakening demand and persistent oversupply. The group said Thursday it is directing more investment toward specialty chemicals, sustainable materials and manufacturing process innovation as it seeks to improve profitability while positioning itself for long-term growth. The strategy also reflects a broader shift from being primarily a materials supplier to providing technology-based solutions tailored to customers' evolving needs and tightening environmental regulations. “Kumho Petrochemical Group is moving beyond a business model dependent on market cycles by leveraging technology to improve profitability while proactively securing new growth opportunities for the future,” the company said. One of the group's main priorities is expanding its portfolio of specialty products. Kumho Petrochemical has increased production capacity for solution styrene butadiene rubber, a synthetic

Jul 23, 2026By Lee Gyu-lee
Kumho Petrochemical shifts toward specialty materials, R&D amid petrochemical slump
Companies

Factory automation, lithium batteries present new fire safety challenges

The dayslong fire at a Coupang logistics center in Incheon has highlighted growing fire safety challenges, as factories and warehouses become increasingly automated and reliant on lithium-ion battery-powered robots that could cause a massive explosion when heated. This new industrial environment is raising concerns that existing safety standards may not be keeping pace. Fire officials said one of their top priorities during efforts to contain the blaze at the site was preventing flames from spreading from the sixth floor, where the fire began, to the fifth floor, where hundreds of lithium-ion battery-powered warehouse robots were housed. They estimated the batteries had a combined capacity roughly equivalent to those used in about 20 electric vehicles (EVs). The fire, which broke out on Saturday, was brought under initial control after about 61 hours without spreading significantly to the fifth floor and was fully extinguished on Wednesday. The spread of physical artificial intelligence (AI) is expanding the deployment of autonomous mobile robots, automated guided vehicles and automated

Jul 23, 2026By Lee Gyu-lee
Factory automation, lithium batteries present new fire safety challenges
Law & Crime

Former US diplomat indicted in defamation case against President Lee

Prosecutors have indicted Korean American professor Morse Tan on criminal defamation charges over false claims targeting President Lee Jae Myung. The Seoul Central District Prosecutors' Office (SCDPO) reportedly indicted Tan without detention Thursday on multiple defamation charges. Tan, who served as the U.S. ambassador-at-large for global criminal justice under the first Trump administration, is accused of spreading false allegations during a press conference in Washington, D.C., last year. He allegedly claimed that Lee had been involved in a gang rape and murder of a girl when he was a juvenile and had been sent to a juvenile detention center. Police had initially launched an investigation after receiving a criminal complaint from a civic group, but later closed the case in April without referring it to prosecutors, ruling that jurisdiction did not apply given that Tan is a foreign national and the statements were made in the U.S. However, prosecutors requested that the investigation be reopened, arguing that local authorities have jurisdiction since the alleged victim, President Lee,

Jul 22, 2026By Lee Gyu-lee
Former US diplomat indicted in defamation case against President Lee
Companies

Industry minister heads to Washington to manage tariff risks, advance $350 bil. investment in US

Industry Minister Kim Jung-kwan departed for Washington on Wednesday to address pending trade issues with the United States as the Donald Trump administration prepares to introduce a new Section 301 tariff regime for Korea under the U.S. Trade Act. During the four-day visit, the minister is also expected to flesh out Korea's $350 billion investment commitment to the U.S. that was agreed upon under last year's bilateral tariff agreement, while reaffirming the commitment to maritime cooperation under the Make American Shipbuilding Great Again (MASGA) initiative. Kim will meet U.S. Commerce Secretary Howard Lutnick and Energy Secretary Chris Wright to discuss strategic investment, energy cooperation and other bilateral trade issues. The industry ministry said Kim will also conduct outreach to members of the U.S. Congress to explain Seoul's trade and investment stance. The visit comes as Washington prepares to replace a temporary 10 percent global tariff imposed under Section 122, which expires on Friday. New measures under Section 301 target what the U.S. describes as unfair trade practice

Jul 22, 2026By Lee Gyu-lee
Industry minister heads to Washington to manage tariff risks, advance $350 bil. investment in US
Companies

AMCHAM wraps up Washington mission, launches 'K-Doorknock'

The American Chamber of Commerce in Korea (AMCHAM) concluded its 2026 Washington Doorknock after holding more than 30 high-level meetings with senior U.S. government officials, lawmakers and business leaders, while launching a new initiative to help Korean companies expand their presence in the United States. Led by AMCHAM Chairman James Kim, an 11-company delegation visited Washington from July 13-16 for discussions on investment, technology, economic security and industrial competitiveness as part of efforts to strengthen the Korea-U.S. economic partnership. A centerpiece of this year's mission was the launch of "K-Doorknock," a program designed to give Korean companies investing in the U.S. direct access to senior policymakers. AMCHAM said the initiative complements its longstanding Washington Doorknock program and reflects its expanding role in supporting two-way investment and public-private cooperation. The K-Doorknock delegation included executives from Dunamu, Hangang Asset Management, HKI America, Hyundai Motor Group, LG Group and SoluM. Representatives from Bayer, Corning, Kim

Jul 22, 2026By Lee Gyu-lee
AMCHAM wraps up Washington mission, launches 'K-Doorknock'
Companies

PHOTO HD Hyundai Oilbank opens flagship lubricant store

HD Hyundai Oilbank employees pose with the company’s premium engine oil product at Hyundai XTeer Pangyo, the company’s newly opened flagship store in Seongnam, Gyeonggi Province, Tuesday. The store offers premium lubricants and professional 30-minute engine oil replacement services as part of the company’s efforts to reach more customers. Courtesy of HD Hyundai

Jul 21, 2026By Lee Gyu-lee
[PHOTO] HD Hyundai Oilbank opens flagship lubricant store
Companies

Samsung Electronics launches CEO-led robotics unit to drive future growth

Samsung Electronics has launched a dedicated robotics organization reporting directly to its chief executive officer as it seeks to make robotics a key pillar of its future growth strategy and bolster its competitiveness in next-generation technologies. The company said Tuesday the new Robotics eXperience (RX) Business Office will consolidate the company's robotics capabilities under a single organization responsible for mid- to long-term strategy, core technology development and commercialization. Operating under the direct oversight of CEO Roh Tae-moon, the new unit is designed to accelerate decision-making and execution, enabling Samsung to respond more quickly to market changes and create new robotics business opportunities. Based at Samsung's Seoul R&D Campus in southern Seoul, the office will serve as the company's robotics hub as Samsung expands offices, laboratories and other infrastructure for robotics development and commercialization. To strengthen its data capabilities, which Samsung described as a key competitive advantage in robotics, the company will establish a Data Facto

Jul 21, 2026By Lee Gyu-lee
Samsung Electronics launches CEO-led robotics unit to drive future growth
Tech & Science

Gov't to launch security-focused AI model for public sector this year

Science and ICT Minister and Deputy Prime Minister Bae Kyung-hoon said Monday the government plans to develop a security-focused artificial intelligence (AI) model for the public sector this year as part of efforts to build domestic AI capabilities and reduce dependence on foreign AI providers. "We have assessed that by leveraging the AI models we already have and fine-tuning them with security-related data and vulnerability scenarios, it is possible to build a security-focused AI model capable of identifying a wide range of vulnerabilities at the current level of technology,” Bae said during a media conference marking his first year in office at Government Complex Sejong. "We plan to begin development and first apply the security-focused model in the public sector before the end of the year." For the private sector, he said the government will evaluate whether the model could be deployed later this year or early next year. Bae framed the effort as part of a wider push to secure sovereign AI capabilities amid intensifying global competition. He noted that leading AI models are increasi

Jul 20, 2026By Lee Gyu-lee
Gov't to launch security-focused AI model for public sector this year
Others

Trade ministry honors 45 staffers for energy crisis response

The Ministry of Trade, Industry and Resources on Monday awarded special bonuses to 45 employees, totaling 91 million won ($61,500), in recognition of their contributions to stabilizing energy supplies and safeguarding the economy amid prolonged Middle East tensions. A ceremony was held at Government Complex Sejong to recognize 11 initiatives led by the employees who maintained emergency response operations, helping mitigate disruptions to global energy markets since late February. The ministry said many of the recipients had worked around the clock for months to manage the energy and supply chain crisis. Their efforts focused on stabilizing domestic supplies of petroleum and naphtha while minimizing disruptions to households and businesses. Among the largest recipients was the resource industry policy division, where 24 officials, including Director General Kim Jong-chul, received a total of 57 million won for five initiatives. The team established a 24-hour emergency response system immediately after the U.S.-Iran conflict broke out and deployed a broad range of policy measures, includi

Jul 20, 2026By Lee Gyu-lee
Trade ministry honors 45 staffers for energy crisis response
Tech & Science

US seeks share of Korean chipmakers' 'excess profits': source

The U.S. is seeking a share in Korean semiconductor companies’ enormous profits from the global artificial intelligence (AI) chip boom, citing strong U.S. demand for Korean chips, according to an industry source. This comes amid debates here on what defines “excess” gains, whether they should be shared with subcontractors or even with the public, and how much each subcontractor or contributor is entitled to. The industry source familiar with the matter said during a meeting last month that Rick Switzer, deputy United States Trade Representative (USTR), told Korea's Trade Minister Yeo Han-koo that the U.S. side deserves a share of the massive profits of SK hynix and Samsung Electronics. “That was based on a rationale that American companies purchased large volumes of Korean semiconductors and thus contributed to the Korean firms' earnings,” the source said. “So, if the Korean chipmakers’ partner firms in Korea are entitled to parts of the profits, the American ones are, too.” A ranking government official also told The Korea Times that the U.S. side made such a claim, with

Jul 16, 2026By Lee Gyu-lee
US seeks share of Korean chipmakers' 'excess profits': source
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